Russia allows SODECO, ONGC to keep their stakes in Sakhalin-1 project -Ifax
FILE PHOTO: FILE PHOTO: An aerial view shows the Yastreb (Hawk) land rig at Sakhalin-1's Chaivo field, some 1,000 km (621 miles) north of Yuzhno Sakhalinsk October 10, 2006. REUTERS/Sergei Karpukhin
Russia has allowed India's Oil and Natural Gas Corp and Japan's Sakhalin Oil and Gas Development Co (SODECO) to keep their stakes in the new Russian operator of the Sakhalin-1, Russian news agency Interfax reported, citing governmental documents.
SODECO would keep its 30 per cent stake and ONGC would retain another 20 per cent, as before, Interfax said. Russia has established a new entity, managed by a Rosneft subsidiary, that owns investors' rights in Sakhalin-1 after the exit of previous operator ExxonMobil.
Source: Reuters
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